04/04/2013 Live Update

[Cobra]

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Small gap up, within yesterday's range, so the gap might be filled.

The rebound overnight on Global ES looks like a Bear Flag to me, and now it may have resumed the push down, with measured move target at 1532.75. As usual, I only believe Fib 61.8 at 1541.82.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2013/04 ... ve-update/

[stlwater]

[Richarab]

Quiet morning...

[heavenskrow]

im leaning bearish for the next few weeks. Bears have been getting destroyed with this resilient market but I'm gonna try to help them push it down

In all honesty Nasdaq's bearish wedge is laughable. I really don't see it breaking over resistance....But who knows....

[gasprice]

All I see is a major channel on ES, with ES at all time highs. Looks like the bottom of a channel to me, not a top, maybe a little more shaking out

[kaiboliu]

what is this?

on trademonster

[L_T]

what is this?

on trademonster

Miyagi what have you been fooling around with now?

[TradingJackal]

viewtopic.php?f=2&t=875&p=124832#p124832

GLD turned out to be a crapshoot! Looks like it go lower than 148.xx which was the low a couple of years ago. Will wait for the daily stochastic to get oversold before dipping my toes again.

[heavenskrow]

viewtopic.php?f=2&t=875&p=124832#p124832

GLD turned out to be a crapshoot! Looks like it go lower than 148.xx which was the low a couple of years ago. Will wait for the daily stochastic to get oversold before dipping my toes again.

yep! I dipped my tows in it last monthand I got tired of holding it since it hardly moved lol

[Out of Bounds]

what is this?

on trademonster

Miyagi what have you been fooling around with now?

[ClarkW]

ABN AMRO fails to deliver on their gold contracts? not a small bank to be doing that...

http://www.examiner.com/article/largest ... -customers

[gappy]

viewtopic.php?f=2&t=875&p=124832#p124832

GLD turned out to be a crapshoot! Looks like it go lower than 148.xx which was the low a couple of years ago. Will wait for the daily stochastic to get oversold before dipping my toes again.

"Gold might also be seeing some pressure this morning from news of more declines in international gold mining share prices and gold might also be feeling some heat from news that gold derivitive holdings in one fund fell yesterday afternoon to the lowest levels since July of 2011." from Dailey Metals Commentary...The Hightower Report. (Silver had a higher low overnight) FWIW....GLTA today. Short the yen! http://www.youtube.com/watch?v=nB-xqDZbEVQ

[Out of Bounds]

I want to trade this so bad..... Have meetings through Noon. Back later.

[Cobra]

strong start, now the meaningful rebound may have started. members should know what I mean.

[TWT]

$SPX: The Expanded Flat idea I suggested yesterday

[gasprice]

Short term equity put/call sentiment approaches the most extreme levels in the past decade.

ARE YOU SURE YOU WANT TO CALL A TOP HERE?

[Cobra]

members only update at 9:55am
http://www.cobrasmarketview.com/2013/04 ... ve-update/

[Mr. BachNut]

Net Long. Carrying longs and shorts.
I was slow and missed shorting at a good level yesterday.
A summation index sell set-up did trigger a trade mid-day.

My composite trend signal was exactly at 0 after the close yesterday. That's never happened before, usually positive or negative not neutral.
A weak day today, perhaps even a weak up day, could flip this to a down trend signal.

My summation index signal is negative across the board.
However, given an oversold McClellan Oscillator reading, any shorts per this signal have stops at yesterday's high.
It is crazy that the market is reading oversold after one down day from all-time highs. Bad Breadth!

Bulls have to respond to yesterday or let the downtrend set in.
I'll probably be neutral and perhaps short by the end of the day.

[kenttown]

Yesterday never happened.